The price of flights and hotel stays are set to increase substantially in 2018. Bad news indeed for business travellers and their employers.
It has been reported this week that those who travel for work can expect to pay up to 10% more for their corporate adventures, though prices will vary depending on destination.
GBTA research suggests that airfares in the UK are set to rise by 5.5% in 2018, while hotel rates could jump by over 6%. Continental travellers will likely suffer most, with predictions of 8.7% rises in flights prices. Intercontinental won’t fare much better, with suggested increases of 8.5%.
It has also been suggested that mid-scale hotels could see rate rises of over 8%, while luxury establishments could hike prices by up to 10%.
Edel Doherty, Managing Director of Beyond Business Travel, said: “The rise in airfare and hotel rates is directly attributed back to the strengthening of the UK economy and growing demand among the business sector.”
“Companies should begin to examine their travel budgets and plan for rises. A Travel Management Company such as ours can often help offset increased costs, by introducing increased efficiencies and negotiating partner discounts.”